making money on your own

[JasonB]

Wasn't sure where to post this.

I have been layed off for about two months now and just got word that our shop is closing down for good. Bummer. Our area has lost dozens of shops over the past two years flooding the market with out of work carpenters. Work is pretty much impossible to find. So I was thinking of trying to make money building things on my own, but, I found myself at a loss (woodworkers block?). I was thinking it would be cool to start turning out rustic type farm furniture. Vegi bins and hutches and stuff like that that I could build using one by pine. I have a lead on building some plaques and display bases for a taxidermist, but thats limited work.

So my question for me and anyone else like minded, is, what kinds of things do you guys build, if any, for extra income? Looking for ideas. Something I could build easily that would turn a good profit.

Thanks guys. its getting rough out there.

[Don]

Hey, Jason. Sorry to hear about your situation. In situations like this it's always good to think from the end. So often we think from the front, i.e. what do I like to do, what knowledge do I have, what tools do and skills do I have. All good things to consider, but you have to think about who your customer could be, who has the money, and how can you get it. Most of today's issue with "shops" is that their business is local and if the local economy slows, so does their work. There's plenty to do out there, you simply need a wider audience or customer base. The net does that easily and cheaply. In these times it's much easier to get a small amount of money from a large group of people. Think about those people as customers and what services or goods you might be able to supply for them. What do they want? I believe there is still money out there for what people want as opposed to what people need. What can you do online that will fulfill your dream. Okay, you can build plaques and display bases for a local taxidermist, but if he needs them then so do others. Again something that people want as opposed to need. What if you delveloped an offering of cool plaques, display bases, etc for taxidermists and sent information, links, etc. to every taxidermist in the nation. Made a nice site where they could go and see your offerings and order online. With your woodworking skills you could come up with some unique ones. Search online for what others are doing and up the ante. In these times we need to think in terms of a larger market when the local one tanks. There's money out there, work from the end to get to it.

And I'll also add, don't think about doing everything yourself. Let's say you do develop a line of stuff. You say that local guys are hungry for work. Find a shop with CNC equipement to make your "components". Don't worry about someone stealing your ideas, that almost never happens. Have different shops make different parts or products for you. I bet with determination, inspiration and just a little money outlay on your part, in six months you could be the go-to guy for stuff like this. I've had a small online business for ten years and I can tell you that running a small business out of the home is the most cost effective and rewarding thing I've done.

Let me know if I can help.

All the best and good luck, Don

[JasonB]

You make a lot of sense Don. This is how I have been trying to look at this. Working from the end as you say. I know there is a ton of money out there. I've been trying to find a niche where I could make some good money. Ultimately to support my family. I keep thinking about a guy my dad knew. He built some kind of special cabinet to store some speciffic dental equimpment and got rich when other dentists around the country wanted his design. He found his niche. Thats what I would like to do, something like it anyways. I like the idea of selling outside of my local comunity, I will look into that. I know I offer something unique with my ideas for this taxidermist. The stuff I made for him he loved and said he had never seen stuff like that before. Other taxidermists were asking him about the stuff also. So maybe thats good. I figured it wouldn't be long before other guys would pick up on this stuff and copy it though. I had thought about contacting distributors about something like this.... Maybe it would be worthwhile, eh?

It kinda sucks, the guys who were leasing the shop from my former boss really ran the shop into the ground. They sold equip. and bought new stuff, now the new stuff is being reposessed. So my old boss is being left without a cnc. The heart of the darn shop. We cut and machine almost everything with that machine. I thought about trying to get some guys together and start something in the shop but my ols boss says it takes $8,000 per month just to keep the shop open. Thats not including anyones wages, just ins., rent, power and such.

I wonder if we could get some accounts across the country for taxidermy....
I've been thinking if a guy could find a few "niches" he might do good. Lets do the taxidermy thing. And while we are at it lets build jewelry boxes! And the liquor sales are up with this recession so lets build some cool liquor cabinets. Chess tables anyone? And my fav., lets learn to build some cool guitars.....

Thanks for the response Don!

[Don]

Now you're thinking! Don't invest in something, such as machinery, that others already have on the floor. Most equipment is never used to it's full potential which means that a savvy businessman will embrace having guys like you bring stuff to machine. Just like selling outside of your locale, you can also outsource your parts from other areas.

As far as starting your own place, well you can make a small fortune - but you have to start with a large one first! Keep your investment light, as much as possible only on salable items and parts. Bring parts in from various sources and you do the assembly and finish work. Guys like us, the first thing we usually think of is we need this machine and that machine, we get machine rich and cash poor. There are a lot of guys out there that need work and the net and delivery options make the world a smaller place.

Think what you could do if you had your own laser and/or CNC. How about laser engraving your plaques, etc. to make them unique? I'll send you a PM for some contacts to get virtually anything cut, shaped, engraved.

All the best, Don